Avie Schneider

A day after dropping more than 1,000 points, the Dow rebounded Friday to close up more than 300 points. But the index lost nearly 5 percent for the week as the markets focused on rising interest rates, inflation and ballooning government debt.

The stock market went on a wild ride again on Monday, with the Dow Jones industrial average closing down 1,175 points, its worst point drop in history. The Dow closed down 4.6 percent and turned negative for the year.

At one point Monday afternoon, the Dow was down 1,579 points — the largest intraday point drop in the history of the index.

The 2.6 percent drop in the Dow came as the Labor Department reported that 200,000 jobs were added to the economy last month, which was stronger than expected, and the unemployment rate stayed at 4.1 percent — the lowest since 2000.

The Thomas Fire in Southern California has raged for nearly two weeks, and on Saturday new evacuation orders were issued in Santa Barbara County as a local zoo made preparations to move some of its animals out of the danger zone.

The wildfire, which has burned 259,000 acres and destroyed more than 1,000 structures, is considered the third-largest in state history. Officials said about 18,000 homes and other buildings are threatened by the blaze, which is only 40 percent contained.

A Japanese maker of materials used in airplanes and car parts has admitted that one of its subsidiaries falsified quality-assurance data, the latest in a string of Japanese industrial giants to mislead customers.

Toray Industries said Tuesday that it had identified 149 instances of altered data between 2008 and 2016. The products involved affected 13 customers and included cords used for tires and car hose belts.

President Trump on Friday announced that Mick Mulvaney would become acting director of the Consumer Financial Protection Bureau, hours after outgoing Director Richard Cordray tapped his own interim successor.

Earlier Friday, the CFPB announced that Cordray had named Leandra English, the agency's chief of staff, as deputy director to take over the bureau.

Richard Cordray, the embattled director of Consumer Financial Protection Bureau, announced Wednesday that he will leave the agency by the end of November.

"I am confident that you will continue to move forward, nurture this institution we have built together, and maintain its essential value to the American public," Cordray wrote in an email to the agency's staff.

The Dow Jones industrial average on Tuesday briefly topped 23,000 for the first time, crossing another milestone amid better-than-expected earnings reports and concerns that stocks are approaching another bubble.

Stanley Fischer is resigning early as vice chair of the Federal Reserve after three years at the central bank. His term was set to expire next June. Before becoming second in command to Fed Chair Janet Yellen, the former MIT economics professor served as head of the Bank of Israel and as a top official at the International Monetary Fund, the World Bank and Citigroup.